Nayax (NASDAQ:NYAX) Sees Large Volume Increase - Time to Buy?

Key Points

• Nayax Ltd. (NASDAQ: NYAX) experienced a 72% increase in trading volume, with 17,444 shares traded on Wednesday, while the stock price recently stood at $48.32 after closing at $49.75.
• Recent analyst ratings reflect a mixed outlook, with three analysts rating it a Buy and four giving it a Hold rating, while the average target price is $42.00.
• The company's quarterly earnings showed better-than-expected EPS of $0.16, surpassing analysts’ estimates, although revenue of $95.59 million was below forecasts.

Nayax Ltd. (NASDAQ:NYAX - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 17,444 shares traded hands during mid-day trading, an increase of 72% from the previous session's volume of 10,133 shares.The stock last traded at $48.32 and had previously closed at $49.75.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NYAX shares. UBS Group lifted their target price on Nayax from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Wall Street Zen downgraded Nayax from a "strong-buy" rating to a "buy" rating in a research report on Sunday, June 1st. Keefe, Bruyette & Woods boosted their price objective on Nayax from $40.00 to $50.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 9th. Jefferies Financial Group reiterated a "buy" rating on shares of Nayax in a research report on Tuesday, May 13th. Finally, B. Riley reiterated a "buy" rating and set a $47.00 price objective (up from $44.00) on shares of Nayax in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $42.00.

Nayax Price Performance

The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 87.60 and a beta of 0.23. The company has a quick ratio of 1.59, a current ratio of 1.68 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $46.09 and a two-hundred day simple moving average of $41.98.

Nayax (NASDAQ:NYAX - Get Free Report) last released its earnings results on Wednesday, August 13th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.06. The firm had revenue of $95.59 million during the quarter, compared to the consensus estimate of $99.16 million. Nayax had a return on equity of 5.32% and a net margin of 6.06%. Nayax has set its FY 2025 guidance at EPS. As a group, research analysts predict that Nayax Ltd. will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nayax

A number of institutional investors have recently added to or reduced their stakes in NYAX. Goldman Sachs Group Inc. lifted its position in Nayax by 43.9% in the first quarter. Goldman Sachs Group Inc. now owns 294,430 shares of the company's stock worth $9,966,000 after purchasing an additional 89,886 shares during the period. Y.D. More Investments Ltd lifted its position in Nayax by 6.6% in the second quarter. Y.D. More Investments Ltd now owns 1,170,927 shares of the company's stock worth $59,025,000 after purchasing an additional 72,751 shares during the period. Ibex Investors LLC increased its holdings in shares of Nayax by 19.3% in the first quarter. Ibex Investors LLC now owns 416,015 shares of the company's stock valued at $14,039,000 after buying an additional 67,276 shares in the last quarter. ARK Investment Management LLC bought a new position in shares of Nayax in the first quarter valued at $1,906,000. Finally, Marshall Wace LLP bought a new position in shares of Nayax in the second quarter valued at $2,649,000. 34.87% of the stock is currently owned by institutional investors and hedge funds.

Nayax Company Profile

Nayax Ltd., a fintech company, operates system and payment platform for multiple retailers in the United States, Europe, the United Kingdom, Australia, Israel, and rest of the world. The company offers AMIT 3.0, a machine-to-machine vending telemetry solution; Nayax Core, a management and monitoring software for vending machines and other unattended machines; MoMa, a mobile app for unattended machine; Tigapo back-office software suite, a cloud-based platform; EV Core, a smart, cloud-based management platform; Retail Management Cloud, a comprehensive attended retail management platform; Loyalty and Marketing Suite, a consumer engagement marketing and loyalty platform; Monyx Wallet, a digital wallet app enabling cashless payments with mobile phones; Weezmo, a consumer engagement and marketing platform; and Tigapo app, a proprietary mobile app to help family entertainment center businesses.